Fed Allows GMAC Financial To Become Bank Holding Co
As part of the approval, the Fed is requiring GM and Cerberus Capital Management LP to reduce their ownership stakes in Detroit-based GMAC. GM owns 49% of GMAC, a subsidiary it founded in 1919. Cerberus owns 51%.
GM must reduce its ownership interest in GMAC to less than 10% in voting shares and total equity. Cerberus, which owns Chrysler, must reduce its interest to a maximum of 14.9% in voting shares and 33% in total equity.
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re: Fed is requiring GM, Chrysler to reduce GMAC ownership
Simple as can be. By 'emergency declaration', meaning no oversight of any kind, the so-called deal to 'save' auto-financing giant GMAC by converting it to a bank holding company, coming with the attached strings of a total loss of controlling ownership of the company, now makes GMAC essentially nothing more than just another branch of the unaccountable entity that calls itself the Federal Reserve. compare: 'End The Fed' movement 11-22-08
As part of the approval, the Fed is requiring GM and Cerberus Capital Management LP to reduce their ownership stakes in Detroit-based GMAC. GM owns 49% of GMAC, a subsidiary it founded in 1919. Cerberus owns 51%.
GM must reduce its ownership interest in GMAC to less than 10% in voting shares and total equity. Cerberus, which owns Chrysler, must reduce its interest to a maximum of 14.9% in voting shares and 33% in total equity.
-----------------------------------------------
re: Fed is requiring GM, Chrysler to reduce GMAC ownership
Simple as can be. By 'emergency declaration', meaning no oversight of any kind, the so-called deal to 'save' auto-financing giant GMAC by converting it to a bank holding company, coming with the attached strings of a total loss of controlling ownership of the company, now makes GMAC essentially nothing more than just another branch of the unaccountable entity that calls itself the Federal Reserve. compare: 'End The Fed' movement 11-22-08
Consolidation of all things financial into private hands, step by step, to establish totalitarian control over all industry and consumers for the coming conversion of this country into the regional global system...you are looking at it. The agenda of the 'North American Unionizing' of America the homeland just took another giant step. Rev. 18:4
update of U.S., Canadian Governments Taking Over Auto Industry In 'Joint Venture' 12-20-08: "These so-called government loans, which by-the-way are nothing more than just a part of the whole staged production, are only a first step in taking absolute control of the automakers and all related private industries. And it will not stop there. It is a GLOBAL management scheme that is being implemented."
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see also: NWO: Shutting Down America Piece By Piece
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see also: NWO: Shutting Down America Piece By Piece
(follow links, connect dots)
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The rising NWO system of Babylon is already doomed:
Isaiah 13:19 And Babylon, the glory of kingdoms, the beauty of the Chaldees' excellency, shall be as when God overthrew Sodom and Gomorrah.
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The rising NWO system of Babylon is already doomed:
Isaiah 13:19 And Babylon, the glory of kingdoms, the beauty of the Chaldees' excellency, shall be as when God overthrew Sodom and Gomorrah.
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